10.8 MILLION TONNES
Inferred mineral resource of 10.8 million tonnes
0.56% CU & 2.56 G/T AG
Average grade of 0.56% Cu and 2.56 g/t Ag
Resource upgrade with additional drilling
Simplified environmental licensing
HIGH SALES PRICE
Attractive sale price (A$4,000 per tonne)
WHAT IS COPPER
SULPHATE USED FOR?
Copper sulphate is a copper salt that has an extensive range of uses in a number of industries. Global copper sulphate consumption in 2019 was just over 296,000 tonnes per annum. This is projected to grow to over 377,000 tonnes per annum in 2024.
Aguia will be targeting the agriculture sector which is by far the largest segment in the copper sulphate market accounting for 79% of consumption in 2019. Copper sulphate’s primary use in agriculture is in fungicides but it is also used for treating copper deficient soils and for animal nutrition.
Source: Global Copper Sulphate Market 2020-2024 – Technavio
MINERAL RESOURCE ESTIMATE AS AT 13 MARCH 2019
Aguia Resources Limited – Andrade Deposit
- CIM (2014) definitions were followed for Mineral Resources. Mineral Resources also conform to JORC (2012) Code.
- Open pit resources are stated within a resource pit shell, above a cut-off grade of 0.20% Cu.
- Underground resources are reported above a cut-off grade of 1.00% Cu.
- Cut-off grades were calculated using a copper price of US$3.50/lb and a silver price of US$20/oz.
- Average bulk densities of 2.68 t/m3 for high grade domains and 2.60 t/m3 for low grade and waste domains were applied.
- Resources are reported on a 100% basis. No mining loss or mining dilution factors have been applied to the reported figures.
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
- Totals may not sum due to rounding.